Socialism

If you listen only to the mainstream media, you might not have heard that Obama told supporter in Colorado that he wants to nationalize more businesses and industries. Rush Limbaugh quotes Obama:

"I want to nationalize other industries just like I did General Motors and Chrysler."

The Politico quotes Obama as saying,

"“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry."

So how did that auto bailout actually work out?

"On the day Government Motors, aka GM, announced it was recalling at least 38,000 of its vehicles — Impalas used by police nationwide and in Canada — due to a crash risk, a new Treasury report said it now expects to lose $25 billion on the bailout, $3.3 billion more than forecast earlier."

It gets worse.

"As the Detroit News reported, this loss was based on GM's stock price at the time of the report, which was 15% higher than the previous report. Because the stock price has fallen since then, the latest report likely understates taxpayers' real losses."

Obama is a communist. This is his version of success. He empowered his union allies while making the American people poorer. That is his goal, and he achieved it with the auto bailout. Well done, Great Pharaoh. Now he wants to replicate it until Americans are as destitute as his Kenyan half-bother.